SECTION 10(46) OF THE INCOME-TAX ACT, 1961 - EXEMPTIONS - 55/2013

SECTION 10(46) OF THE INCOME-TAX ACT, 1961 - EXEMPTIONS -

STATUTORY BODY/AUTHORITY/BOARD/COMMISSION - NOTIFIED BODY

OR AUTHORITY - UTTRAKHAND STATE AIDS CONTROL SOCIETY

Income Tax – IT

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE)

NOTIFICATION No. 55/2013

Dated: July 23, 2013

S.O. 2268(E) - In exercise of the powers conferred by clause(46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Uttarakhand State AIDS Control Society a body established by the Government of Uttarakhand in respect of the following specified income arising to the said Society, namely: -

(a) amount received in the form of grants-in-aid from the Government of India; and

(b) Interest earned on grants-in-aid from the Government of India.

2. This notification shall be deemed to have been applied for the financial years 2011-2012, 2012-2013 and shall applicable for the financial years 2013-2014, 2014-2015 and 2015-2016.

3. The notification shall be effective subject to the following conditions, namely:-

(a) The Uttarakhand State AIDS Control Society does not engage in any commercial activity;

(b) The activities and the nature of the specified income of the Uttarakhand State AIDS Control Society remain unchanged throughout the financial year; and

(c) The Uttarakhand State AIDS Control Society files return of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the Income-tax Act, 1961.

4. The grants from various international development agencies shall be received and applied in accordance with the prevailing rules and regulations.

[F. NO. 196/88/2012-ITAT.I]